Treasury rejects all bids for 91-day T-bills

Reuters

MANILA - The Philippines' Bureau of Treasury rejected all bids for 91-day T-bills on Monday and withdrew the offer due to weak demand.

The Treasury had planned to raise P2 billion ($47 million) from the sale of 91-day bills, but offers only reached P1.93 billion. It was the third auction in a row that the Treasury rejected bids for the 3-month paper.

It awarded a total P5.5 billion worth of bids for 182-day and 364-day T-bills on Monday.